“Why do I need piano insurance?” “What kind of insurance will suit my piano’s need?” “Does my homeowner’s policy adequately cover my piano?”
These are just some of the basic questions you would be pondering upon if someone suggests you to purchase piano insurance. Piano is one of those instruments that simply doesn’t sit in one corner of the house, but takes up a royal space within the household. It could be a family heirloom and been with your family for generations, or it could be a gift to your little daughter who has shown an exemplary musical acumen. Apart from having a piano for personal use, you could also be a professional musician for whom the struck string instrument is an absolute necessity.
Whatever be the reason for you owning the piano it doesn’t take a genius to guess that it is indeed a precious and expensive instrument. It deserves all the care, attention and protection you can offer. All the more reason why insurance is a must for you. If you have been thinking that the coverage offered to you under the homeowner’s policy is enough for the piano, it’s time you think again. In most likelihood your piano will fall under general household goods and you may need to add a personal property insurance rider to it. Since the piano’s value will be equated with other household items, it may not get the right market value or replacement value when required.
Need for Appraisal
If you have a piano for over a generation in your house, it is important you get it appraised before purchasing any insurance. Appraising the musical instrument will tell you its current value and also suggest how much you can/ should spend on the insurance. Appraising musical instruments has become a common trend today and you will find professional musicians relying on the judgment of appraisers before insuring any kind of musical instrument. It must be mentioned here that while appraisers are professionally qualified to give you an accurate estimate of the musical instrument, they are also liable to make mistakes. When you hire an appraiser, try to find out if they have personally purchased insurance for appraisers to protect themselves.
Things To Do
Once you have appraised the value of the piano, you can call your insurance agent to know what kind of policy will best work for your situation. However, here are a few things you can do before that. Note down the piano’s brand, serial number, model and size before calling in the insurance agent.Such information will help you know the replacement value of the piano. While speaking to the agent about the insurance, you must also find out how much you can get if you are to repair the piano. Also find out what happens when the instrument is damaged while in transit.
These are basic information you should have before you settle for any type of insurance. Remember that your agent might offer different insurance to personsusing piano professionally and those who use it personally.
These are just some of the basic questions you would be pondering upon if someone suggests you to purchase piano insurance. Piano is one of those instruments that simply doesn’t sit in one corner of the house, but takes up a royal space within the household. It could be a family heirloom and been with your family for generations, or it could be a gift to your little daughter who has shown an exemplary musical acumen. Apart from having a piano for personal use, you could also be a professional musician for whom the struck string instrument is an absolute necessity.
Whatever be the reason for you owning the piano it doesn’t take a genius to guess that it is indeed a precious and expensive instrument. It deserves all the care, attention and protection you can offer. All the more reason why insurance is a must for you. If you have been thinking that the coverage offered to you under the homeowner’s policy is enough for the piano, it’s time you think again. In most likelihood your piano will fall under general household goods and you may need to add a personal property insurance rider to it. Since the piano’s value will be equated with other household items, it may not get the right market value or replacement value when required.
Need for Appraisal
If you have a piano for over a generation in your house, it is important you get it appraised before purchasing any insurance. Appraising the musical instrument will tell you its current value and also suggest how much you can/ should spend on the insurance. Appraising musical instruments has become a common trend today and you will find professional musicians relying on the judgment of appraisers before insuring any kind of musical instrument. It must be mentioned here that while appraisers are professionally qualified to give you an accurate estimate of the musical instrument, they are also liable to make mistakes. When you hire an appraiser, try to find out if they have personally purchased insurance for appraisers to protect themselves.
Things To Do
Once you have appraised the value of the piano, you can call your insurance agent to know what kind of policy will best work for your situation. However, here are a few things you can do before that. Note down the piano’s brand, serial number, model and size before calling in the insurance agent.Such information will help you know the replacement value of the piano. While speaking to the agent about the insurance, you must also find out how much you can get if you are to repair the piano. Also find out what happens when the instrument is damaged while in transit.
These are basic information you should have before you settle for any type of insurance. Remember that your agent might offer different insurance to personsusing piano professionally and those who use it personally.
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